AEROSPACE

Lockheed Settles Simmons Lawsuit: The Calabasas-based aerospace concern agreed to pay $27 million to NL Industries Inc., a Houston chemicals firm controlled by investor Harold C. Simmons, to settle a suit stemming from Simmons’ failed takeover bid for Lockheed in 1990. A federal jury in Los Angeles, after hearing NL’s allegation that Lockheed failed to disclose critical information during the takeover fight in violation of U.S. securities laws, had awarded $30 million to NL in late 1992. Lockheed, which appealed, said it still believes the verdict “was in error� but that it “was in the best interests of the company to resolve the longstanding dispute� for an amount less than the jury’s award.